Tulla Resources (ASX:TUL) is pleased to announce that it has now completed on it's US$21.5 million (A$30.0 million*) secured credit facility with Nebari Partners LLC (Nebari).
The secured credit facility is comprised of a Debenture Loan Facility of US$13.5 million and a Convertible Loan Facility of US$8 million (together, the Loan Facilities).
The Loan Facilities are to be drawn down on 1 June 2022. The key terms of the Loan Facilities are set out in the Company’s ASX announcement dated 28 April 2022.
Tulla Resources’ Executive Director, Mark Maloney, said:
“This is a great outcome for the Company as it gives us certainty in funding our Norseman Gold JV commitments as we progress towards the recommencement of production in Q3 2022.
We have worked collaboratively with Nebari in closing this transaction and thank them for their validation of, and support for, the future of the Norseman Gold Project".
TUL Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
